Bank of the Valley to buy Farmers State

Bank of the Valley, Bellwood, Neb., will buy of Farmers State Bank, Humphrey, Neb..The one-branch Farmers State Bank has $27 million in assets, $24 million in deposits and $13 million in loans, mostly agricultural. All six staff members are expected to remain with the branch.."We are pleased with the increased opportunities this provides our customers, employees and the communities we serve," said Deb Herchenbach, president of 101-year-old Farmers State Bank. "Bank of the Valley has demonstrated its commitment to preserve true community banking, which means local decision-making, retention of local staff, commitment to community involvement and personal one-on-one service.".The $175 million Bank of the Valley has four branches in the state, including one upgraded from an LPO in Columbus last year.The bank plans to begin construction this year on a new building near the current site..The deal will close by the end of the second quarter.